Radialization Bringing a Paradigm Shift in Indian Tyre Industry
Indian tyre industry is witnessing splendid growth over the past few years. Its radial tyre segment is gaining popularity compared to other segments in the industry. With the increasing customer’s demand for better mileage and durability, radial tyres are swiftly replacing the conventional tyres. For the same, most of the manufacturers are also focusing on increasing their radial tyre production capacity. In future, with the government initiatives for the improvement of roads along with huge investment ventures by tyre makers, Indian radial tyre market is anticipated to grow at a CAGR of around 19% during FY 2012-2016.
